Digital advertising company S4 Capital PLC (LSE:SFOR) is continuing its beeline for social media marketing companies, today announcing a combination between Dutch subsidiary Media Monks and influencer marketing start-up XX Artists.
This follows the London-listed advertiser's recent merger with TheoremOne in May, which was brought on board to augment its technology arm.
The latest conditional deal is expected to expand the content element of the digital advertiser’s portfolio and client base.
Acquirer Media.Monks, which specialises in social media marketing, was recently named Campaign’s Global Social Media Agency of the Year.
Kyle Kuhns founded XX Artists in California in 2018 and since then it has acquired clients such as Google, YouTube and Logitech to execute influencer and social media strategies.
In 2021, XX Artists was named one of Fast Company's 100 Best Workplaces for Innovators.
The Los Angeles-based company generated more than US$12 million of gross profit in 2021, with more than 100% growth and expects recent client wins to boost revenue over and above last year in 2022.
S4 Capital said it will pay for the deal through a share consideration at a price of £4.25 per share.
Sir Martin Sorrell, S4 Capital executive chairman, said: "Their exciting growth, diverse talent base and prestigious clients will help fuel the development of our best-in-class social media capabilities in the United States and internationally."